Pressure on Cartu Bank could frighten investors

As it is known, in 2011 the banking giant HSBC stopped its activities in Georgia and the number of banks operating in Georgia decreased to eighteen.

Cartu Bank has been facing different problems with Georgian officials since its owner Ivanishvili entered politics in the country. Georgia’s National Bank has been artificially trying to create problems for Cartu Bank, claim Cartu officials.

Analysts now think that if Cartu Bank stops its operations in Georgia entirely this will negatively influence the mood of investors and might mean they will not invest in the country’s economy. Other analysts however challenge this idea and suggest that new foreign banks will actually be appearing in Georgia from Azerbaijan, Armenia and other countries.